First round of Investor Confidence Ratings completed

The first round of Investor Confidence Rating (ICR) assessments for 25 investment-intensive government agencies is now complete, following assessment of the Ministry of Social Development (MSD) and the Southern District Health Board (SDHB). The second round is underway with the first tranche of assessments completed. This included the first repeat ICR assessments for Defence (NZDF and the Ministry of Defence), Housing New Zealand Corporation (HNZC) and the NZ Transport Agency.

The ICR is an incentive mechanism for investment-intensive government agencies that rewards good investment management performance and proactively addresses performance gaps. It uses a rating scale from A to E, with an ‘A’ rating signalling a high level of performance and an ‘E’ rating indicating significant assistance may be required for the agencies investments to deliver results. A ‘C’ rating means that the status quo investment management system arrangements remain in place.

MSD received a ‘C’ rating and SDHB was rated ‘D’. This is the first ICR assessment for both agencies.

HNZC retained an ‘A’ rating and Defence a ‘B’ rating from their first assessments in 2016 and 2015 respectively. The NZ Transport Agency was rated ‘C’ after being assessed as ‘B’ in 2015.

More details on each of these results are available on the Treasury website, along with background information about the ICR.

ENDS

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